Project – CIRCULAR ECONOMY AND SOCIO-ECONOMIC DEVELOPMENT IN NIGERIA

CHAPTER ONE

INTRODUCTION

• Background to the Study

The notion of the Circular Economy (CE) has garnered substantial interest in recent years, especially in the context of socio-economic development. The CE model advocates for the optimal use of resources, minimising waste, and the restoration of natural systems (Geissdoerfer et al., 2017). Nigeria views the implementation of CE principles as a feasible means to achieve socio-economic growth, considering its abundant natural resources and expanding population.

The research conducted by Nnorom and Osibanjo (2008) emphasised the capacity of Circular Economy (CE) in Nigeria’s waste management industry. The authors contended that the adoption of Circular Economy (CE) concepts has the potential to convert trash from being a challenge into a valuable asset, leading to job creation and fostering economic expansion. Additionally, they observed that this transition would need substantial investment in both infrastructure and capacity development.

Project – CIRCULAR ECONOMY AND SOCIO-ECONOMIC DEVELOPMENT IN NIGERIA